Portal Komuniti Informasi Malaysia Terkini
BTCClicks.com Banner
Hello There, Guest! Register Login with Facebook

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
GDMFX - Daily News
FOREX NEWS: BULLISH MOMENTUM DAMPENED BY HEAVY RESISTANCE


EUR/USD



Forex News: Friday’s trading session was characterized by mixed price action and a lot of reversals on the lower time frames. The Eurogroup Meetings were tense and a clear solution was still not reached.

[Image: 2015.04.27-Bullish-momentum-dampened-by-...24x592.png]

Technical Outlook

The pair is now confined between 1.0850 support and 1.0900 resistance; both levels were touched Friday but a breakout didn’t occur. Today we expect another touch of 1.0900 resistance but a break of the bullish trend line seen on the chart above might generate downside pressure and an extended move south. If this occurs, the 50 period Exponential Moving Average will offer the first form of support.

Fundamental Outlook

The day ahead lacks important European and American news releases so price action will be mainly affected by the technical aspect.


GBP/USD

Price moved north Friday or the back of US Dollar weakness following a bounce at 1.4980, which is now confirmed support.

[Image: 2015.04.27-Bullish-momentum-dampened-by-...24x592.png]

Technical Outlook

The pair is now sitting above 1.5160 and shows bullish momentum but this level needs to be re-tested from above for it to turn into support. Also, the Stochastic and the Relative Strength Index are moving above their respective overbought levels and this increases the chances of bearish movement during the day. If price moves below 1.5160 it can find support at the bullish trend line seen or the chart above.

Fundamental Outlook

At 10:00 am GMT the Confederation of British Industry (CBI) will release the Industrial Order Expectations. This is a medium impact survey and attempts to measure the expected volume of orders for the next three months; higher values than the forecast 4 are usually beneficial for the Pound.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: POUND CONTINUES TO MOVE UPHILL. BRITISH GDP IN THE SPOTLIGHT


EUR/USD



Forex News: For the most part of yesterday’s trading session the pair moved in a tight range before finally starting to move upwards in the second part of the day. For the time being resistance is still holding.

[Image: 2015.04.28-Pound-continues-to-move-uphil...24x592.png]

Technical Outlook

After a bounce at the 50 period Exponential Moving Average, price started to move upwards and came very close to 1.0900 resistance but at the time of writing a break didn’t occur. The picture remains unclear as long as the pair is confined between support (50 EMA) and resistance (1.0900) but we consider that a break of either one will generate an extended move in that direction.

Fundamental Outlook

The dollar will be affected today by the release of the Consumer Confidence survey scheduled at 2:00 pm GMT and expected to show a value of 102.6, better than last month’s 101.3. This survey acts as a leading indicator of retail sales volume because usually a confident consumer is likely to spend more. The impact on the US Dollar is strong under normal circumstances and better values strengthen the greenback.


GBP/USD

Most of the day was controlled by the bulls and 1.5160 resistance was clearly broken after a bounce in close vicinity of the trend line visible on the chart.

[Image: 2015.04.28-Pound-continues-to-move-uphil...24x592.png]

Technical Outlook

The short term outlook is bullish and as long as price is trading above 1.5160 we expect further advances north. The Stochastic is clearly overbought and the Relative Strength Index is close to its 70 level so it is very possible for the pair to descend into 1.5160 for another re-test; this level together with the 50 period Exponential Moving Average will offer support if touched.

Fundamental Outlook

At 8:30 am GMT the British Preliminary Gross Domestic Product is released, with an anticipated change of 0.5% compared with last month’s 0.6%. The Gross Domestic Product is an economy’s main gauge of performance and usually has a strong impact on the currency. Higher than anticipated values are considered bullish for the Pound.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: U.S. GROSS DOMESTIC PRODUCT AND FED INSIGHTS ON RATE HIKE MIGHT SHAKE THE MARKET



EUR/USD

Forex News: The bulls maintained their control over the pair and price moved higher for most of yesterday. The U.S. Consumer Confidence survey posted a worse than expected value, weakening the US Dollar and contributing to the pair’s climb.

[Image: rUrPden.jpg]

Technical Outlook

The 50 period Exponential Moving Average offered good support and price bounced off of it again yesterday; 1.0900 is now clearly broken and 1.1000 is threatened but the Relative Strength Index and the Stochastic are both overbought on an hourly chart. This doesn’t necessary mean that a reversal is coming but retracements are expected. The resistance zone around 1.1000 proved to be strong in the past so be careful if you are holding long positions.

Fundamental Outlook

At 12:00 pm GMT the German Consumer Price Index is released. Being the main gauge of inflation, this indicator has a strong impact on the pair, and better numbers than the forecast 0.4% usually strengthen the euro.

At 12:30 pm GMT the U.S. Advance version of the Gross Domestic Product is released and anticipated to show a change of 1.0% compared with the previous 2.2%. Such a decrease would be detrimental for the greenback. Later in the day, at 6:00 pm GMT the Fed will announce the interest rate. Although no change is expected today, the Statement that accompanies the rate decision is likely to contain clues about the next rate hike. Rumors have been circulating about a June or July increase but so far it’s just speculation.


GBP/USD

The British Gross Domestic Product showed a disappointing value yesterday but this only weakened the Pound for a short while and soon after the pair continued its upwards direction.

[Image: sm0De1M.jpg]

Technical Outlook

Price is moving north and it looks like not even bad British data can stop the bullish advance. The current level at 1.5340 had some importance in the past so maybe we will see a reaction again considering that both oscillators are oversold on a four hour chart. The bullish trend line will offer support if touched and a move above 1.5340 would open the door for a touch of 1.5550.

Fundamental Outlook

The United Kingdom has a slow economic day ahead but the pair’s movement will be strongly affected by the U.S. events.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: EMERGENCY FUNDING INCREASES. EURO SOARS


EUR/USD



Forex News: Yesterday we saw a huge climb generated mostly by the fact that the ECB increased the emergency funding available to Greek banks. On top of that the American Gross Domestic Product showed economic slowdown by posting a disappointing value and this weekend the US Dollar.

[Image: MNAeaJd.jpg]

Technical Outlook

The strong climb seen yesterday is likely to affect today’s price action and we will probably see a push close to 1.1280 resistance. Currently the pair is re-testing 1.1100 which will turn into support if the bears cannot keep price below it. The next potential resistance is too far away to be reached in one day and the oscillators are overbought so we expect at least a pause of the climb before the bulls can take price higher.

Fundamental Outlook

The main event of the day is the European Consumer Price Index scheduled at 9:00 am GMT and expected to show a change of 0.0% compared to the previous -0.1%. This is the main gauge of inflation and because current values are considered too low, further decreases would weaken the euro.


GBP/USD

The US Dollar weakened against the Pound as well and this allowed the pair to climb for almost the entire day. The Fed kept the rate unchanged but the Statement briefly strengthened the US Dollar bringing the pair lower.

[Image: 6rQHuLD.jpg]

Technical Outlook

The resistance at 1.5550 is very close and although the Relative Strength Index and the Stochastic are overbought, we expect price to touch this level. The last encounter with 1.5550 triggered a huge drop so we expect it to have some sort of impact this time too (assuming the bulls can indeed take price there). The medium term outlook is bullish and all moves lower should be treated as retracements in an uptrend.

Fundamental Outlook

The United Kingdom didn’t schedule major news releases so price direction will be mainly affected by the technical aspect.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: LABOR DAY CELEBRATIONS TRANSLATE TO IRREGULAR PRICE ACTION


EUR/USD



Forex News: Daring the first part of yesterday’s trading session the euro continued to strengthen against the greenback but a lower value of the U.S. Unemployment Claims showed that the jobs market is recovering and this brought back some dollar strength.

[Image: zRP0Qfn.jpg]

Technical Outlook

The resistance at 1.1280 still remains the first target and a touch is expected during the day. The bears have made a few attempts to take price below support but unsuccessful so far and the short term bias is still bullish. A clean break of 1.1280 would open the door for 1.1450 but the oscillators spent a long time in overbought territory and this suggests that we might see a reversal or deeper retracement if 1.1280 is reached.

Fundamental Outlook

European banks are closed today, celebrating Labor Day and this will probably translate in choppy price action and irregular volatility. The US Dollar will be affected by the release of the Manufacturing PMI scheduled at 2:00 pm GMT and expected to post a value of 52.1, better than last month’s 51.5. This is a leading indicator of economic health and usually better numbers are beneficial for the US Dollar but the impact is sometimes mild, especially if the actual number is close to analysts’ forecast.


GBP/USD

The bulls didn’t manage to take price into resistance and the dollar strengthened on jobs data, generating a drop into immediate support.

[Image: AYtlnv9.jpg]

Technical Outlook

Currently the pair is re-testing 1.5340; if this touch results in a bounce higher, the chances of an encounter with 1.5550 will increase. However, the Stochastic and the Relative Strength Index are coming down from overbought territory and they show strong bearish momentum so a break of 1.5340 is not out of the question. If this is the case, the bullish trend line and the 50 period Exponential Moving Average will create the first support zone.

Fundamental Outlook

British Manufacturing data is released at 8:30 am GMT in the form of the Purchasing Managers’ Index which is a survey of about 600 purchasing managers and acts as a gauge of performance for the manufacturing sector. Higher numbers than the anticipated 54.6 usually strengthen the Pound.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: EURO AND POUND LOSE MOMENTUM. DOLLAR STAGES A COMEBACK


EUR/USD



Forex News: Friday the pair touched resistance but the bulls ran out of steam and a quick drop followed. The American Manufacturing PMI posted a lower than expected value but the dollar continued to strengthen, showing the bears still have underlying power.

[Image: wFsVSKC.jpg]

Technical Outlook

The bounce at 1.1280 coincides with an overbought condition of the Relative Strength Index and the Stochastic, making us believe that the current bearish move will extend further. The first possible destination and support is located at 1.1100 followed by the 50 period Exponential Moving Average which will probably continue to climb to touch price. Once the pair finds support, we expect bounces higher.

Fundamental Outlook

The German Final Manufacturing PMI is released at 7:55 am GMT and expected to show a value of 51.9, same as the previous. Higher numbers are beneficial for the euro but the indicator usually has a mild impact on price action.

The U.S. Factory Orders are released at 2:00 pm GMT; the forecast is a big change of 2.1% from the previous 0.2%. The indicator shows fluctuations in the total value of orders placed with manufacturers and acts as a leading indicator of production thus higher figures are beneficial for the US Dollar.


GBP/USD

The pair experienced a sharp selloff Friday and the bears managed to erase all the advances made during the week.

[Image: OyZt5E7.jpg]

Technical Outlook

All immediate forms of support were broken during Friday’s drop: 1.5340 horizontal support, the bullish trend line and the dynamic support represented by the 50 period Exponential Moving Average. This shows tremendous bearish pressure and makes us believe that we will see further downside movement during the days to come. However, it’s very possible that after such a drop, price will retrace higher to touch the Moving Average from below.

Fundamental Outlook

British banks are closed today, celebrating May Day. No major news releases are scheduled for the day and this might generate slow and potentially choppy price action.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: BEARISH RETRACEMENTS MEET SUPPORT


EUR/USD



Forex News: German Manufacturing data came out with the anticipated value so the release didn’t create strong moves. The U.S. Factory Orders also met analysts’ expectation but the figure was much better than the previous and the greenback benefited from it.

[Image: NOwK6wY.jpg]

Technical Outlook

On an hourly chat the pair descended below the 50 period Exponential Moving Average but 1.1100 support wasn’t reached; the medium term outlook is bullish so we expect price to start rising once and if the mentioned support is reached. If 1.1100 is broken to the downside, the next support is located at the 50 period EMA on a four hour chart, followed by 1.1000. Resistance is still located at 1.1280.

Fundamental Outlook

At 12:30 pm GMT the U.S. Trade Balance is released; the indicator shows the difference in value between imported and exported goods and is expected to post a value of -41.2B compared to last month’s -35.4B. Higher numbers show a thriving economy and usually strengthen the US Dollar.

Later at 2:00 pm GMT the Non-Manufacturing PMI comes out, showing the opinions of American purchasing managers about business conditions and the overall state of the manufacturing sector. Higher values than the forecast 56.2 are beneficial for the greenback.


GBP/USD

The Pound-Dollar pair continued to drop after a brief bullish pullback but yesterday’s trading session was very slow and without substantial moves, mostly because British banks were closed.

[Image: UEs7oYA.jpg]

Technical Outlook

We expect the pair to climb until the 50 period Exponential Moving Average is touched either on an hourly or four hour chart. Once this happens, watch for a bounce lower which will probably push price close to 1.4980 support. A bullish break of the 50 period EMA will be a sign that the medium term uptrend is resuming and will make 1.5340 the first target.

Fundamental Outlook

The British Construction PMI is released today at 8:30 am GMT and expected to show a value of 57.6. Since this is a leading indicator of economic health, better than expected numbers have the potential to strengthen the Pound. As always, the U.S. indicators will have a direct impact on price action.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: PRICE ACTION INFLUENCED BY FIRST LOOK AT U.S. JOBS SITUATION


EUR/USD



Forex News: The U.S. Trade Balance disappointed yesterday, showing a worse than expected reading and weakening the US Dollar. The pair moved north after a false break of 1.1100.

[Image: DmKJIzJ.jpg]

Technical Outlook

The bounce at support shows that the medium term uptrend is likely to continue and that 1.1280 is probably the next target. The 50 period Exponential Moving Average on a four hour chart is angled upwards, the Stochastic is coming out of oversold territory and the Relative Strength Index is also pointing upwards. All these are signs which back up our bullish bias. A quick descent below 1.1100 would invalidate this scenario.

Fundamental Outlook

At 12:15 pm GMT we will get a first look at the U.S. employment situation as Automatic Data Processing Inc. will release their version of the Non-Farm Employment Change. The forecast in an increase to 192K from the previous 189K but the indicator doesn’t have the huge impact of the Government data which is released two days later. Nonetheless, higher numbers have the tendency to strengthen the greenback.

At 1:15 pm GMT, Fed Chair Janet Yellen will deliver a speech at a conference on Finance and Society organized by the Institute for Economic Thinking. The impact on the US Dollar in not known but as a rule of thumb, all her public speeches should be treated with caution.

GBP/USD

Yesterday the pair broke out of its latent state exhibited Monday and the Pound strengthened although the Construction PMI didn’t meet analysts’ expectations.

[Image: i5ZOlbo.jpg]

Technical Outlook

On a four hour chart the pair is touching the 50 period Exponential Moving Average which might act as resistance but the Stochastic is just coming out of oversold and this suggests that we will see further upside movement. These are mixed signals which determine us to have a neutral bias for this pair. Price direction will be mostly decided by the British and American economic indicators released during the day.

Fundamental Outlook

Apart from the U.S. events already mentioned, the pair will be affected by the release of the British Services PMI scheduled at 8:30 am GMT. The expected value is 58.6, a small decrease from the previous 58.9; a lower value would weaken the Pound but the impact is not always strong especially if the actual number is close to the forecast value.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: POUND PRICE ACTION GOVERNED BY BRITISH PARLIAMENTARY ELECTIONS


EUR/USD



Forex News: The employment report released by Automatic Data Processing Inc. showed that fewer jobs were created last month (actual 169K, expected 199K), a fact which weakened the US Dollar and allowed the pair to climb substantially.

[Image: 2015.05.07-Pound-price-action-governed-b...24x592.png]

Technical Outlook

The decisive break of 1.1280 resistance is a clear sign of dollar weakness and also suggests that we will probably see higher prices in the near future. Usually after a fast climb price retraces lower due to profit taking; if this is the case, we will probably see a descent close to the recently broken level, followed by another bounce. The first potential resistance is located at 1.1450 but both oscillators are approaching overbought, suggesting a retracement before the mentioned level is reached.

Fundamental Outlook

Early at 6:00 am GMT the German Factory Orders are released and expected to show a change of 1.6% compared to last month’s -0.9%. This is a leading indicator of economic health, which offers insights into the activity of manufacturers (more orders suggest increased activity); a higher than anticipated value usually strengthens the euro but the indicator is not considered to have a high impact.


GBP/USD

A better than expected value of the British Services PMI combined with disappointing U.S. jobs data generated bullish price action throughout yesterday’s trading session. The pair moved above dynamic resistance.

[Image: 2015.05.07-Pound-price-action-governed-b...24x592.png]

Technical Outlook

Today’s price action will be heavily influenced by the British Parliamentary Elections so an accurate technical analysis is difficult. First resistance is located at 1.5340 while support will be represented by the 50 period Exponential Moving average. We recommend caution throughout the day.

Fundamental Outlook

As stated above, the Pound’s movement will be driven by the political scene. The results of the elections will be probably known late in the evening.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:
FOREX NEWS: U.S. DOLLAR KEEPS LOSING GROUND AGAINST ITS MAJOR COUNTERPARTS


EUR/USD



Forex News: Germany’s Gross Domestic Product came out lower than expected and the same is true for the U.S. Retail Sales. However, the disappointing value of the American indicator weighted more and the greenback weakened considerably, allowing the pair to climb.

[Image: Mn4jA3a.jpg]

Technical Outlook

US Dollar weakness took the pair above 1.1280 resistance and put the bulls in control of short term price action. Despite all this, the pair is still facing strong resistance ahead, represented by 1.1390 and followed by 1.1450. The Relative Strength Index and the Stochastic don’t show overbought conditions and the pair stands above the dynamic support represented by the 50 period Exponential Moving Average so we expect a move into the resistance zone mentioned earlier.

Fundamental Outlook

The greenback will be affected today by the release of the Producer Price Index, an indicator which shows changes in the price charged by producers for their goods. A higher value has inflationary implications because an increase of producer price will be eventually passed on to the consumer. The forecast is 0.1% and the time of the release is 12:30 pm GMT.

Swiss, French and German banks will be closed today in observance of Ascension Day.


GBP/USD

The pair had a choppy day yesterday, mostly due to mixed data which came out of the United Kingdom and the United States.

[Image: ovuAdqx.jpg]

Technical Outlook

The Relative Strength Index and the Stochastic remained overbought but the pair kept climbing after a consolidation period. The lower time frames were difficult to trade due to sharp reversals generated by the fundamental scene. The current bullish momentum is expected to continue today, with 1.5790 being the first target. If this level will be reached, we expect a deeper retracement to the downside.

Fundamental Outlook

The United Kingdom didn’t schedule major news releases for the day so price direction will be mostly dictated by the technical side.
Need help? Click here to talk to our customer support
Site: http://www.gdmfx.com
Page: facebook.com/GDMFXcom
Email: customersupport@gdmfx.com
Reply
Thanks given by:


Forum Jump:


Users browsing this thread: 1 Guest(s)